Hyper Bit completes $1.49M private placement for mining rigs

VANCOUVER - Hyper Bit Technologies Ltd. successfully completed a private placement, raising $1,487,500 through the issuance of 14,875,000 units. Each unit represents one share and one warrant, exercisable at $0.15 per share for 36 months from issuance. The funds will be used for purchasing mining rigs, settling debts, marketing, and working capital.

The company opted against debt settlement plans previously announced. Finder's fees and warrants were also issued, subject to a four-month hold period. Hyper Bit Technologies specializes in crypto mining and blockchain technology development, operating on the Canadian Securities Exchange, OTC Markets, and Frankfurt Stock Exchange.